Credit Card Use In Gambling Puts College Students At Risk
By Brian Williams on Tuesday, September 18th, 2007 :: 9:56 amCategory: Online Articles
The popularity of online gambling leads many people to credit card debt, especially college students with already delicate finances. A recent article on www.startelegram.com, titled “Betting Their Lives,” highlights this recent phenomenon as betting on college campuses moves from crowded dorm rooms to cyberspace.
An insightful read, “Betting Their Lives,” touches on how gambling addiction can ravage a person’s life and credit. One problem gambler said that he maxed out credit cards, squandered tuition money and even took money from his parents’ checking account.
Expansion of online gambling sites – which usually require a credit card to place bets – have drawn more youthful bettors. Youthful gamblers in college, typically with meager income, have no business betting on anything – especially with high-interest debt cards. Compulsive gamblers of any age are at risk for identity theft if they use their credit cards on dubious gambling sites.
The recent popularity of poker tournaments on television and in taverns has drifted onto the Internet, allowing people to whip out their credit cards anonymously. While U.S. law bans online gambling via a credit card, there is easy access to international gambling portals. Compulsive gamblers often tap credit cards for a seemingly never-ending resource for their addiction, pulling them further into bad credit.
The article also alerts people of the warning signs of gambling addictions – such as a person’s isolation from friends and family, and displays of newfound wealth. Parents with children in college should heed the cautionary tales in this article. Many young adults are joining Gamblers Anonymous for counseling, according to the article. If their financial situation becomes too dire, many of these gambling addicts could benefit from credit counseling to help fix their money problems.
Author bio: Brian Williams, a graduate of the University of Texas at Arlington, has 11 years’ experience writing and editing at daily newspapers in Texas. Learn more about credit card debt and debt solution from Brian through MyUSADebt. MyUSADebt is your alternative to debt consolidation.
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